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Six Citgo, Five Clark Stores to be Sold by NRC

Bids for Western Michigan sites due Oct. 26.

September 29, 2004, 08:00 pm

CHICAGO -- SB Petro Partners LLC of Grand Rapids, Mich., has retained NRC Realty Advisors LLC (NRC) to sell five western Michigan Citgo and five Clark convenience stores with gasoline. The sites will be sold through a sealed bid sale in a "buy one, some, or all" format, with bids due on Oct. 26.

Ten of the 11 sites are located in the Grand Rapids area, while one is located in Grand Haven. A list of stores and sale-related information is available online at www.nrc.com/414, or by calling NRC Customer Service as 800-747-3342, ext. 414.

"Over the last year and a half, SB Petro Partners has overhauled the physical locations, which has successfully increased profitability of its current operating stations. These sites are now prime candidates for acquisition," said Hope Mineo, managing director for NRC Realty Advisors.

NRC is producing a color sales brochure and individual due diligence packages, which contain store-level information and bidding terms of sale. Individual bid packages for each store will be available at $35 each for a hard copy and $25 for a CD-ROM.